Leaders of a professional services firm asked Elliott Davis: “Can you advise on key areas to help our new organization run smoothly now and help prepare the future generation of leadership for success?”
Context
Five key advisors from a large financial services firm based in the Southeast sought to form their own financial advisory organization
Three of the partners were nearing the end of their careers
All leaders sought advice on setting up the independent firm for success
Our Approach
Provided advisory support in establishing appropriate infrastructure for the new organization
Specifically focused on educating advisors on best practices for the following areas:
Organizational / tax structure
Governance
Role clarity
Compensation
Succession planning
Client Impact
Conducted workshops on defining partners’ and supporting management roles to alleviate potential future tensions
Developed a succession plan for the smooth transition to the next generation of leaders
Elliott Davis tax team also provided assistance in structuring the organizational for the most advantageous tax position
We Can Help
For more information on how Elliott Davis can assist you and your business, contact a member of our team below.
The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.
“Elliott Davis" is the brand name under which Elliott Davis, LLC (doing business in North Carolina and D.C. as Elliott Davis, PLLC) and Elliott Davis Advisory, LLC and its subsidiary entities provide professional services. Elliott Davis, LLC and Elliott Davis Advisory, LLC and its subsidiary entities practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations and professional standards. Elliott Davis, LLC is a licensed independent CPA firm that provides attest services to its customers. Elliott Davis Advisory, LLC and its subsidiary entities provide tax and business consulting services to their customers. Elliott Davis Advisory, LLC and its subsidiary entities are not licensed CPA firms. The entities falling under the Elliott Davis brand are each individual firms that are separate legal and independently owned entities and are not responsible or liable for the services and/or products provided by any other entity providing services and/or products under the Elliott Davis brand. Our use of the terms “our firm” and “we” and “us” and terms of similar import, denote the alternative practice structure conducted by Elliott Davis, LLC and Elliott Davis Advisory, LLC.
